TCF Financial reported Q4/15 net income of $52.5 million compared with net income of $24.0 million in Q4/14. Q4/15 results included a year/year decline in credit loss provisions of 68.3% or $38.0 million. Net income of $197.1 million for the year ended December 31, 2015, compared with net income of $174.2 million for the same period in 2014.

The following highlights on the equipment finance and leasing unit were excerpted from the TCF news release:

• Net assets at year-end 2015 of $4.012 billion were up 7.1% or $267 million from $3.745 billion a year earlier.
• Interest income and yield of $175.6 million and 4.62%, respectively, in 2015 compared to $167.0 million and 4.73% a year earlier.
• Revenue for Q4/15 and full-year 2015 was $32.4 million and $108.1 million, respectively, up 32.8% and 15.4% from $24.4 million and $93.8 million for the same year-ago periods.
• Non-interest income of $108.1 million in 2015 was up 15.3% from $93.8 million a year earlier.

“TCF experienced another successful year in 2015 as earnings per share increased 13.8% while return on average tangible common equity improved by 40 basis points,” said Craig R. Dahl, chief executive officer. “Meanwhile, loan and lease originations increased 13.1% during the year which led to additional revenue growth and diversification.”